Archive
Stop digging Have you ever heard the old adage “If you find yourself in a hole, stop digging?” Well, that’s great advice, especially for real estate investors because if you are in this business any length of time there’s a good possibility you’ll find yourself looking up from hole. So what do you do about it? That was a question I got asked this week from a Zoom panel in which I...
Run your own race Recently I participated in my second ever half marathon. Consequently, it was also the second one I have done this year. And if you don’t know, a half marathon consists of running 13.1 miles. Now you may be asking yourself, “Why in the world would he do that?” To that I would answer that I have no idea. Well, that is not entirely true. One of the guys in the race...
The price of doing rehabs We just spent $100,000 on a rehab that we thought would cost $60,000. That means we went over budget $40,000. How do you like them apples? To be honest, we were shocked that we went over this much, especially since at the time we calculated our offer to purchase I was thinking I overestimated the rehab. This house was a three-bedroom, one huge bath...
Three questions for the end of year review It’s that time of year again. It’s time to reflect on 2022 and then make new goals for 2023. What have you done to prepare for the coming year? If you’re not sure what to do, I’ll tell you the strategy we use that I learned from Jocko Willink, author of “Extreme Ownership: How U.S. Navy Seals Lead and Win.” He called it an “After Action...
Things are changing Ashley and I were sitting on the couch this morning, sleepy-eyed, but trying to make the most of our few moments together without child interruption as we sipped our coffee. You see, life has changed quite a bit for us this past month with having a newborn. I’ve been saying this since our two-year-old was born. Having babies is a young man’s sport. And I don’t...